No plans to scrap or delay Sizewell C, Downing Street confirms

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Owner Street has insisted it has no plans to cancel or delay construction of the Sizewell C nuclear power plant as Rishi Sunak attempts to tighten the public purse strings.

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The government’s position on the multi-billion-pound project “has not changed”, No 10 said, as the nuclear reactor remains “critical” to curbing the UK’s reliance on fossil fuels and promoting energy security at home.

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The prime minister’s official spokesman said it was expected that an agreement would be reached with energy firm EDF, who are expected to build the reactor, “as soon as possible”, the prime minister’s official spokesman said.

It was reported the development was being reviewed as ministers explore spending cuts and £50bn in tax increases, with a government official having previously told the BBC: “We are reviewing every major project – Including Sizewell C.”

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A senior Treasury source endorsed this, stressing “we are looking at all capital expenditures”, despite sources elsewhere including the Department of Trade, Energy and Industrial Strategy, the project was not being canned.

Number 10 confirmed on Friday that there had been no change in its position, insisting: “It is not fair to say that we are ending it.”

“This is important to reduce our reliance on fossil fuels, increase our energy security and meet our net-zero ambitions,” the PM’s spokesperson said.

“We hope to have a deal on the line as soon as possible, with talks (with EDF) going on.

“The conversation has been constructive.”

Boris Johnson promised £700 million of taxpayer money for development in his final policy speech in early September as he sought to make energy security a part of his legacy as prime minister.

According to reports, the total cost of the Sizewell C project could be around £20 billion.

Electricity generation is not expected to start until 2030; Construction of a similar reactor at Hinkley Point C in Somerset began in 2016 and will not be online until 2027, although this is partly due to the effects of the pandemic.

Supporters of the site say it could help the UK run on zero-carbon electricity, but others say the cash would be better spent on wind farms or insulation.

The government is looking for opportunities to reduce spending to address a multi-billion-pound hole in public finances, as it aims to restore economic stability in the wake of market chaos caused by the previous administration’s catastrophic mini-budgets. To be kept in the center.

It comes as the country has been battered by more bleak economic news, with the Bank of England raising interest rates for the eighth time in a row and Britain in what could be the longest recession in at least a century.

The chancellor acknowledged the difficulties facing homeowners and businesses, the highest for 14 years, after the bank on Thursday raised the base rate to 3% from 2.25%.

He said there were problems affecting economies around the world, but Rishi Sunak would “fix” the issues caused by Liz Truss and Quasi Quarteng in September’s unfortunate £45bn tax giveaway.

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